Many arts organizations operate on minimal budgets. This has been the case since before COVID-19 impacted the theater scene. Monetizing ticket sales for events, whether virtual or in-person, expands your opportunity for profit. It means moving beyond the most obvious revenue-generating act, which is simply selling tickets.
How Can You Monetize Ticket Sales?
There are many ways to make more money from ticket sales rather than relying on the ticket sales themselves. While it is helpful to sell more tickets, of course, it’s also helpful to encourage ticket-holders to invest in your organization. People who buy tickets to your event are interested in what you have to offer, so take the opportunity to improve and enhance that engagement.
The best way to learn more about your audience and what they want, so you can direct their spending, is by gathering and analyzing data. For example, by allowing for two-way messaging, surveys, flash polls, or text-to-donate, your organization is now collecting valuable patron information. You can find out what your audience is gravitating to, how they are using the digital program book, and other key information.
With this data and the resulting analysis, you can then tailor every event and every ticket to your ideal audience. That means you are more likely to sell tickets to people who are interested in your performing arts organization’s work, which in turn means more profit. Find out what your audience wants, and make it happen with a highly integrated digital program book content management system.
Integrate Other Services
Want to make more money on an event? Let your audience know what you have to offer and make it easy for them to get it. Our digital program book management system is a simple way to connect patrons to other services that can add to your profits.
With a simple tap of a button, your patrons will have access to concession services, valet parking, merchandise, and other services. It requires no extra work on your part but enables more sales and more monetization than tickets alone. These are places patrons want to spend money, so why not clear the way?
Ticket Sales and Sponsorship
When you have a large, engaged audience of ticket holders, this can also help encourage better sponsorship deals. As advertisers and sponsors see that your audience is high-quality, engaged, and interested in what you are doing, they will also see an opportunity. Every ticket holder is a potential customer for advertisers, too. If you can show sponsors this value, they’re more likely to offer a deal.
Choose sponsors that align with your event or your brand values, and determine what they will get in return. Often, sponsors want prominent branding and advertising. A digital program book content management system makes it incredibly easy to give sponsorships the exposure they want, with static or animated ads displayed in multiple areas. With Audience Access, you can easily integrate the data you have collected into any ticketing system and better monetize your ticket sales. See what it’s all about with a free trial today.